Any charge orders that are submitted or any unforeseen items will extend out the competition date.

He explained there were many unforeseen costs and problems, especially as a new investor.

Like @John Chapman points out, we often don't realize unforeseen problems or mistakes for a long time.  

15k down payment + 3k closing costs + 5k unforeseen repairs= 23k.

Expect also a charge for the water department to come out to turn on the main. and expect to have to set an appointment to do that.. they won't turn it on unless someone is at the property because of unforeseen leaks. 

I found a property on auction.com, but I'm not certain about some of the unforeseen details. 

I have  interested parties who could pay cash as we would not subordinate the land due to the unforeseen future.  

That would be a scenario where you have some hiccups due to permit problems or unforeseen problems...

I came up with about $10k in work so I just doubled what I'm assuming it will need to cover labor and unforeseen issues.

Best to get an operating agreement as well which clarifies who is responsible for what, what are the terms of dissolution, and other necessary items in case something unforeseen comes up.2) Yes and No.